"What we have got is a significant amount of uncertainty over the evolution of coronavirus pandemic, which is maintaining a risk premium for the transportation, leisure and hospitality sectors," said Alastair George, head strategist at Edison Investment Research.
Worries over upcoming US-China trade talks amid souring diplomatic relations between the two countries and a lack of progress in negotiations over US economic stimulus, a major factor that has pushed US stocks near all-time highs, also weighed on the mood. "We do believe there's value in European equities," said Matthias Scheiber, global head of multi asset portfolio management at Wells Fargo Asset Management.
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